According to the MAPREX analytical system, the most popular type of housing in Northern Cyprus by the number of bedrooms is 1+1 apartments, which make up 35% of all housing under construction. As of early June 2024, there are 11,056 1+1 units in active construction, of which 5,753 are available for purchase, including 7 houses.
These properties are spread across 122 residential complexes, being built by 38 developers. This year, sales have started in 8 new complexes, including projects such as Hillside, Hollywood, La Joya Perla (Phase 2), Los Angeles, and Manhattan. 56% of all properties under construction are located in İskele.
TOP-10 developers by the number of 1+1 units under construction:
- Afik - 2,197 units
- Evergreen - 1,500 units
- Northernland - 1,264 units
- Döveç - 942 units
- Noyanlar - 925 units
- Cyprus Constructions - 650 units
- Akol - 386 units
- MMT - 382 units
- DEM's Construction - 323 units
- Capiton Construction - 240 units
As of early June 2024, the sales rate for 1+1 units reached 52%, though this figure varies significantly depending on the location:
- Lapta: 79% (324 units under construction, 207 sold)
- Alsancak: 61% (57 units under construction, 35 sold)
- Kyrenia (Girne): 62% (164 units under construction, 102 sold)
- İskele: 62% (6,209 units under construction, 4,133 sold)
- Tatlısu: 53% (860 units under construction, 454 sold)
- Küçük Erenköy: 29% (1,247 units under construction, 367 sold)
- Gaziveren: 27% (926 units under construction, 120 sold)
- Esentepe: 22% (1,146 units under construction, 256 sold)
Delivery timelines for 1+1 units currently for sale are as follows:
- 47% will be completed in 2026
- 30% in 2027
- 15% in 2025
- 8% in 2024
Price Range:
- 72% of all 1+1 units available for purchase as of early June 2024 are priced between £100,000 and £200,000, with a minimum price of £72,000 and a maximum of £399,000.
Price Dynamics:
- Over the past 6 months, the median price of 1+1 apartments has fluctuated between £166,000 and £170,000, driven by the introduction of a significant number of units at lower prices in remote areas such as Güzelürt.
- The median price of 1+1 houses increased by 4% in May, reaching £399,000.
The price of apartments is primarily influenced by the location of the complex and the availability of infrastructure.
|
Residential complex |
Developer |
Price of 1+1, GBP |
Location |
|
K-Island 3 |
Kensington |
399 000 |
Tatlısu |
|
Sea Magic Garden |
Carrington Group |
330 000 |
Esentepe |
|
Seafront |
AKOL |
325 000 |
Boğaz |
|
Mckenzie 2 |
Dörter Construction |
300 000 |
Long Beach |
|
Sunny Hill Village |
The Cove-Baştaşlar Construction |
300 000 |
Esentepe |
|
K-Island 2 |
Kensington |
292 000 |
Tatlısu |
|
Golden Circle Village |
The Cove-Baştaşlar Construction |
287 000 |
Esentepe |
|
Casa Del Mare |
Northernland |
283 000 |
Esentepe |
|
Aelita Garden Resort |
Kayim Development Group |
283 000 |
Esentepe |
|
K-Island 1 |
Kensington |
275 000 |
Tatlısu |
|
Lake Garden Village |
The Cove-Baştaşlar Construction |
275 000 |
Esentepe |
Top 10 most expensive complexes by median unit price for 1+1 apartments:
| Residential complex |
Developer |
Price of 1+1, GBP |
Location |
|
K-Island 3 |
Kensington |
399 000 |
Tatlısu |
|
Sea Magic Garden |
Carrington Group |
330 000 |
Esentepe |
|
Seafront |
AKOL |
325 000 |
Boğaz |
|
Mckenzie 2 |
Dörter Construction |
300 000 |
Long Beach |
|
Sunny Hill Village |
The Cove-Baştaşlar Construction |
300 000 |
Esentepe |
|
K-Island 2 |
Kensington |
292 000 |
Tatlısu |
|
Golden Circle Village |
The Cove-Baştaşlar Construction |
287 000 |
Esentepe |
|
Casa Del Mare |
Northernland |
283 000 |
Esentepe |
|
Aelita Garden Resort |
Kayim Development Group |
283 000 |
Esentepe |
|
K-Island 1 |
Kensington |
275 000 |
Tatlısu |
|
Lake Garden Village |
The Cove-Baştaşlar Construction |
275 000 |
Esentepe |
Top 10 most affordable residential complexes where you can purchase 1+1 apartments:
|
Residential complex |
Developer |
Price of 1+1, GBP |
Location |
|
Class 8 |
Erbatu |
72 000 |
Gazimağusa |
|
Oleya Cyprus |
Noyanlar |
76 000 |
Geçitkale |
|
Melis |
Nurel Group |
92 000 |
Alsancak |
|
Kavan City 2 |
Kavanlar Yapi |
105 000 |
Alsancak |
|
Velocity |
Homeland |
112 000 |
Long Beach |
|
Aphrodite Aqua |
Evergreen |
114 000 |
Gaziveren |
|
Sky Diora |
Noyanlar |
115 000 |
Yeni Erenköy |
|
Los Angeles |
MMT |
116 000 |
Gaziveren |
|
Arcadia |
Dörter Construction |
120 000 |
Bogaziçi |
|
Caesar Resort 9 |
AFIK |
121 000 |
Long Beach |
|
Caesar Resort 8 |
AFIK |
121 000 |
Long Beach |
Sales Dynamics
In May 2024, 124 units of 1+1 apartments were sold in newly constructed buildings, marking the lowest monthly figure in the past 6 months since April. For more detailed information about the state of the Northern Cyprus residential real estate market and specific residential complexes, you can subscribe to our analytics system.